Shutdown’s economic damage: $1 billion a week

HayJenn

Moderator
Jul 2014
61,784
50,046
CA
#1
As federal workers face the prospect of missed paychecks during the partial government shutdown, their financial reality is rippling into the broader economy. The roughly 800,000 government employees who are either furloughed or working without pay will be forced to start slashing their consumer spending when paychecks don’t appear this week. Private-sector contractors and other workers tied to the government are already seeing damage from lost business.


And a hit to the nation’s financial standing is on the horizon with a warning from Fitch Ratings on Wednesday about downgrading the government’s credit rating if the shutdown persists.

Estimates from President Donald Trump’s chief economist peg the cost to the overall U.S. economy at about $1.2 billion for each week the shutdown persists. While that’s just 0.05 percentage points off the GDP growth rate, it could be among the factors complicating the administration’s aspiration of reaching sustained 3 percent growth.

The shutdown — now in its 19th day — could also cost the U.S. government more than a billion dollars in lost productivity for 350,000 workers who are forced to stay home.

Shutdown’s economic damage: $1 billion a week

You know who would not do such a moronic thing? A President that actually knew what they were doing. And would have signed off on the bi-partisan CR.
 

HayJenn

Moderator
Jul 2014
61,784
50,046
CA
#3
Pelosi and schumer should end their partial shutdown if they dislike the consequences of not compromising on a border barrier. Problem solved.
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Well nice to know you have nothing of substance to add to the actual topic, per usual.

Why didn't he just sign off on the bi-partisan CR bill - oh that's right because Coulter and Limbaugh threw a hissy fit.

Why didn't Congress just do it in the first two years when they had control of Congress?

He said "I would proud to shut down the government"

So as much as you want to post stupid memes here, this one is on him.
 
Oct 2014
28,450
4,813
C-A-N-A-D-A-Eh
#4
Pelosi and schumer should end their partial shutdown if they dislike the consequences of not compromising on a border barrier. Problem solved.
View attachment 20636
Let's be fair. Trump started the shutdown.

SchuPolish would rather harm your country in favour of foreign nationals than provide for your own nations security. They could give a shit about people losing their mortgages, they NEED that open border.
 
Dec 2014
14,766
4,840
The Milky Way
#5
$1.2 billion a week multiplied by, say, 50 weeks, equals $60 billion. Out of a $19,390 billion economy. So not even a blip.
 
Jul 2011
51,876
9,725
NYC
#10
As federal workers face the prospect of missed paychecks during the partial government shutdown, their financial reality is rippling into the broader economy. The roughly 800,000 government employees who are either furloughed or working without pay will be forced to start slashing their consumer spending when paychecks don’t appear this week. Private-sector contractors and other workers tied to the government are already seeing damage from lost business.


And a hit to the nation’s financial standing is on the horizon with a warning from Fitch Ratings on Wednesday about downgrading the government’s credit rating if the shutdown persists.

Estimates from President Donald Trump’s chief economist peg the cost to the overall U.S. economy at about $1.2 billion for each week the shutdown persists. While that’s just 0.05 percentage points off the GDP growth rate, it could be among the factors complicating the administration’s aspiration of reaching sustained 3 percent growth.

The shutdown — now in its 19th day — could also cost the U.S. government more than a billion dollars in lost productivity for 350,000 workers who are forced to stay home.

Shutdown’s economic damage: $1 billion a week

You know who would not do such a moronic thing? A President that actually knew what they were doing. And would have signed off on the bi-partisan CR.


So if it's 1b a week, aren't the democrats equally guilty for not budging on any compromise to the wall?